In our ongoing Frequently Asked Questions series, we’ve answered…
How Much Does Property Management Cost? And What Services Does Property Management Include?
So, what’s up next?
How Often Will a Manager Visit My Property?
Let’s start answering this question by digging into…
Why Do Property Managers Conduct Regular Site Visitations?
Monitoring Your Property’s Physical Condition
Maintaining your retail shopping center’s physical condition is imperative! This is important for several reasons…
First, you want your property looking good and in peak condition, so it’s appealing to would-be customers. Because, of course, your tenants depend upon those customers to say in business.
Secondly, you want to ensure your property is good physical condition and free from any potential hazards. This is critical to avoid any potential trip-and-fall or similar accidents that could result in personal injury lawsuits.
Foster + Maintain Positive Tenant Relations
Nurturing positive and productive tenant relations is also key to sustaining a profitable shopping center.
Your tenants are your property’s financial lifeblood. Ensuring their needs are met and concerns are satisfied is crucial to promoting their continued residency in your shopping center.
Thus, consistent access to a sympathetic ear empowered to address your tenants needs and concerns is VERY important to them. And ultimately, tenants take comfort in knowing a landlord representative FREQUENTLY visits the property they inhabit to offer that sympathetic ear.
The Best Way to Accomplish These Goals?
Have a property manager conduct regular site visits!
Site Visitation Overview
When a manager visits your property, they pay close attention to your center’s overall condition, in addition to monitoring specific details.
This includes evaluating:
== > The quality of vendor services
== > The health of landscaping
== > The condition of the parking lot, sidewalks + curbs
== > The overall appearance + integrity of the building’s structure + façade
== > And much, much more!
Tenant Relations Management
In addition to conducting physical inspections, regular site visits also afford tenants a forum to:
== > Voice concerns or issue complaints (about property or neighborhood conditions, vendor services, disputes with other tenants, or frustrations with lease terms they are struggling to satisfy)
== > Offer assessments of property vendor services (poor cleaning or trash collection may be negatively impacting their business)
== > Point out maintenance issues, mechanical or structural problems, and any potential hazards (which may be negatively impacting their business)
== > Develop a simpatico relationship with their property manager (which is often instrumental in avoiding a number of potential crises)
Now that you understand WHY managers conduct regular site visits, the question then is…
How Often Will a Manager Visit My Property?
Typically, managers visit individual sites once per week.
In our nearly three decades of retail property management experience, we’ve determined that weekly visits are the optimal frequency to ensure a property is consistently maintained and remains in peak physical condition.
Are there exceptions?
More Frequent Visits
In some case, managers visit a site more frequently than once per week. Reasons for additional visits may include…
== > Persistent maintenance, cleaning or trash removal problems a manager is working to correct
== > Construction, remodeling or other special projects your manager is monitoring
== > Tenant meetings
== > Tenant move-in + move-out oversight
And these are just a few examples, many other situations may necessitate additional site visitations.
Less Frequent Visits
In other cases, managers may visit sites less often than once per week.
The most likely reason for this is when the 12th through the 15th of the particular month falls in the middle of the week. Managers are usually quite busy between the 12th and 15th of each month preparing monthly landlord financial statements and narrative reports.
Thus, a manager may not be in the position to visit every site in their portfolio.
Are Regular Site Visits to Monitor Your Shopping Center a Concern?
Professional property management would likely benefit your property.
For more information about our management services, visit our Services page at: cbm1.com/services.